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The details of minimum wage laws show why they are so harmful

Large businesses in Saint Paul are already paying their workers at least $15ph and raising the city's minimum wage has always been about raising costs for the city's small businesses. Slowing the increase for these businesses is a sign that, whatever they might say, Saint Paul's policymakers realize that it will have very real costs. If only they would be honest about it.  ...

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As St. Paul’s politicians prepare to hobble the city’s labor market with a $15 minimum wage without tip credit, D.C.’s are getting rid of it

Despite economic theory and empirical evidence being against such a move, Saint Paul's Mayor, Melvin Carter, seems intent on imposing a $15ph minimum wage without a 'tip credit' on the city's businesses. The experience of Washington D.C. shows just how bad this policy is....

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In 2017 American workers were more willing and able to quit their jobs for better pay. This bodes well for future pay increases

In 2017, an increased number of American workers quite their jobs to look for a better offer elsewhere. This reflects increased optimism about the economy from American workers and bodes well for future wage growth. There has been a lot of positive economic news recently and this is one more part of the picture. ...

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Fed: Economy “Remarkably Positive,” and Unprecedented in Modern History

The article below originally appeared in the Washington Post. - I know, I was as surprised as you are. Federal Reserve Chair Jerome H. Powell said Tuesday that the U.S. economy appears to be in the midst of a “remarkably positive” period that is unprecedented in modern history. The Fed is predicting that unemployment will remain below 4 percent through 2020 and that inflation will stay low — around 2 percent — during that time. This has never happened in modern U.S. history. The last time unemployment was that low for several years, in the 1960s, it triggered high inflation, but the central...

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